Grain Spreads: Short Covering

Sean Lusk General Commentary

Commentary Soybean futureseroded to the lowest level since November 2021 early Tuesday morning at 11.87 basis March, which in my opinion prompted a round of bargain buying on Tuesday that led to double-digit gains. March bean futures climbed 26 cents to $12.2025, with May futures rising 24 cents to $12.29. The rest of the soy complex was also in the …

Livestock Commentary

Ben DiCostanzo General Commentary

March Feeder Cattle opened higher, grinded to a new high for the recent up move at 241,925 and then plummeted to the session low at 238.40. It settled near the low at 238.625. The rally stalled below resistance at 242.475 and took out support at 240.875, on its way to test the 238.35 support level. The low and settlement was …

Pure Hedge – Livestock and Grain

Bill Allen General Commentary

1/29/24 The Cattle markets and all the Grains were down today, while the Hogs continued to rally. April’24 Live Cattle was 0.450 lower today and settled at 181.225, just above today’s low of 180.975. Today’s high of 183.450 is also the 1-month high. The 1-month low is 172.275. Since 12/29 April’24 Live Cattle is 8.900 higher or over 5%. The …

WALSH GAMMA TRADER

Bill Allen General Commentary

2/9/24 COMMODITY BUY/SELL COST PER CONTRACT EXPIRATION GRAINS SEP’24 SOYBEAN MEAL BUY 250P 0.70 or $70.00/Contract 196 Days – 8/23/24 JUL’24 CORN BUY 370P 1 3/8 or $68.75/Contract 133 Days – 6/21/24 AUG’24 SOYBEANS BUY 900P 1 1/4 or $62.50/Contract 168 Days – 7/26/24 JULY’24 WHEAT BUY 400P 3/8 or $18.75/Contract 133 Days – 6/21/24 LIVESTOCK AUG’24 LIVE CATTLE BUY …

Pure Hedge – Livestock

Bill Allen General Commentary

1/26/24 The Livestock Markets were all higher today, while the Grain dropped straight down. April’24 Live Cattle gained 0.975today and settled at 181.675, just below today’s high and the 1-month high of 182.150. Today’s low was 180.300. Since 12/26 Arril’24 Live Cattle are 8.150 higher or more than 4 ½%. The Feeders were also higher today. March’24 Feeder Cattle were …

Pure Hedge – Grains

Bill Allen General Commentary

1/26/24 The Livestock Markets were all higher today, while the Grain dropped straight down. April’24 Live Cattle gained 0.975today and settled at 181.675, just below today’s high and the 1-month high of 182.150. Today’s low was 180.300. Since 12/26 Arril’24 Live Cattle are 8.150 higher or more than 4 ½%. The Feeders were also higher today. March’24 Feeder Cattle were …

Cattle and Hogs End Week with New Highs

Ben DiCostanzo General Commentary

April Lean Hogs opened lower and down ticked to the low at 82.15. It raced higher, made the session high at 84.00 and consolidated the rest of the session in the upper end of the range, settling at 83.25. The cash market continues to work higher with cutouts leading the way, giving bulls hope that demand is improving as it …

Grain Spreads: Bears Press in Beans

Sean Lusk General Commentary

Commentary After a three-day short covering rally in the bean sector by managed funds, bean futures reversed course on Thursday 1/25 on three fronts. First Brazil’s premiums fell this week on the availability of newly harvested supply. Brazil’s soybean basis continues to slide with another 6 cents off today which makes it a 45 cent drop for the spot market …

Cattle Surges on Higher Cash Prices

Ben DiCostanzo General Commentary

March Feeder Cattle opened higher and then broke down to the low of the day at 231.975. It drifted, trading withing the 1st half hours range till late morning when the fats took off, taking Feeders with it. Price surged, trading up to the high of the day at 238.925 and then dipping to settle at 238.175. This is another …

Grain Spreads: 6 Day Rally Wheat

Sean Lusk General Commentary

Commentary Chicago wheat futures led the way across the complex as they posted a higher close for six sessions consecutively amid a 38-cent rally off the recent low. The close today in WH24 cleared some important technical levels in my view. March wheat on the daily chart closed above the 50- and 100-day moving averages which may have ignited further …